Sterling Federal Bank, F.S.B. Gives Bank Loan to Waste Collection Company

IowaBusiness loans are available to Iowa business owners through the SBA. In this case, an Iowa bank provides the loan.

Getting a small business loan in Clinton, Iowa was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Sterling Federal Bank, F.S.B.. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: WASTE COLLECTION
CLINTON, IA 52732

SBA Loan Lender

STERLING FEDERAL BANK, F.S.B.
122 MAIN AVE
CLINTON, IA 52732

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

562119 - Waste Collection

Loan Approval Date

3/20/2001

Loan Approval Gross Amount

$126,500

Loan Approval from the SBA

Of the total $126,500 loan amount, the SBA guaranteed $107,525.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Sterling Federal Bank, F.S.B. are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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